GM Says York Not Yet On Board

[Guest Josh]

General Motors Corporation (NYSE:GM) and Tracinda Corporation jointly announced today that, although the parties have had constructive discussions, they have not been able to reach a mutually satisfactory agreement for Jerome York to join the Board of Directors of General Motors at this time. However, the parties expect that they may continue to have discussions in connection with this matter in the future.

[Newbiewar]

Anyone know what objections General Motors would have to this?

[post="55951"]<{POST_SNAPBACK}>[/post]

perhaps yorks track record with companys?

[usa1]

perhaps yorks track record with companys?

[post="56167"]<{POST_SNAPBACK}>[/post]

His track record is better than most of GM management. He helped get Chrysler and IBMs cost structure in order when he was with those companies.

GM is afraid he will suggest and force the cuts that GM has been avoiding.

Mark